The world is dealing with Ebola outbreaks and scares again. We are also in the midst of debates as to whether two Americans who contracted Ebola in Africa should have been brought back for treatment. As with new outbreaks, speculators and investors are wondering if there are companies that can win from creating cures, vaccines or treatments.

Tekmira Pharmaceuticals Corp. (NASDAQ: TKMR) and BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) are two such companies with studies taking place that could treat Ebola. Again that is a “could” rather than “do.” Both companies are far from being on the front lines of treatments right now. These are also not exactly the most established pharmaceutical companies in the world, and they would be considered highly speculative.

Tekmira Pharmaceuticals is based in Canada and worth close to $350 million, according to Yahoo! Finance. The company in July gave an update on its TKM-Ebola Phase 1 clinical hold from the FDA. The company said that it will provide a complete response and hopes the matter is resolved by the fourth quarter of 2014. Tekmira said:

The clinical hold letter confirms that the FDA is seeking data to elucidate the mechanism of potential cytokine release and a modification to the protocol for the multiple ascending dose portion of the trial to ensure the safety of healthy volunteers. … On May 21, 2014, the Company disclosed the results of the single ascending dose portion of the study which demonstrated the administration of TKM-Ebola in the absence of any steroid-containing pre-medication was well-tolerated at a dose level of 0.3 mg/kg, determined to be the maximum tolerated dose in the absence of steroid cover.

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Tekmira shares have risen handily over the past week, from less than $11 last week to as high as more than $16 on Monday morning. Shares were last seen around the flat line at $14.25, with some 6.6 million shares having traded hands. It has been incredibly volatile, and to prove that the 52-week range is $5.08 to $31.48.

BioCryst Pharmaceuticals has in its pipeline BCX4430 as a broad spectrum antiviral for hemorrhagic fevers. BioCryst plans to develop these compounds in collaboration with U.S. government agencies following the Animal Rule regulatory pathway.

BioCryst has been a wild stock as well. Shares were up over 3% at $13.00 on more than 1.2 million shares in the first 90 minutes of trading on Monday. Its average volume is only 1.25 million for a full day, and the 52-week range is $4.55 to $13.54. The company’s market cap is $780 million.

Ebola is a deadly disease that kills many who contract it, and there is currently no formal drug treatment. The disease comes with vomiting and diarrhea, followed by decreased liver and kidney functions, often followed by bleeding. In many cases its symptoms are nearly the same as cholera or malaria.

Chasing deadly diseases, bio-terror and any other hot news items is nothing new to Wall Street. Some turn out to be incredible winners. Other investing results turn out to feel like contracting the disease itself.

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